• Bank Negara Malaysia’s (BNM) international reserves stood at US$102.8 billion as at May 15, 2019 from US$103.4 billion at April 30, 2019 • Tekun Nasional has channelled business financing worth RM140 million since the beginning of this year until April 30, 2019 • Malaysia's labour productivity grows 2.4 per cent in Q1 2019 • Malaysia's CPI rose 0.2 per cent in April 2019 to 121.1 compared to 120.9 in the same month of the preceding year: Department of Statistics Malaysia

RHB aims to grant RM31b to SMEs
Thursday, April 25th, 2019
at , Business | News

By TMR / Pic By ISMAIL CHE RUS

RHB Bank Bhd targets to grant RM31 billion in new and additional financing for small and medium enterprises (SMEs) by 2021.

The bank said this is part of its effort to provide SMEs with easy access to financing, in line with the government’s push to spur greater SME economic participation.

“We have approved RM7.2 billion in 2018 to support the growth of more than 4,000 SMEs in Malaysia.

“In the next three years, we target to grant more than RM31 billion in new and additional financing which will benefit approximately 18,000 SMEs,” RHB group MD Datuk Khairussaleh Ramli (picture) told during a press conference at the group’s AGM yesterday.

He added that the aim is to provide SMEs with services that are beyond the granting of credit facilities.

To date, RHB has connected more than 100,000 SMEs through its cash management solutions and SME e-solution which includes payroll and accounting solutions.

Through the SME ecosystem, the group is poised to connect to 15,000 new SMEs in 2019. — TMR